§ 17-16-303 — Emergency powers

Wyoming § 17-16-303

• Jurisdiction: Wyoming
• Title 17: Corporations, Partnerships and Associations
• Ch. 16: WYOMING BUSINESS CORPORATION ACT
• Art. 3: PURPOSES AND POWERS

Text

(a) In anticipation of or during an emergency defined in
subsection (d) of this section, the board of directors of a
corporation may:
(i) Modify lines of succession to accommodate the
incapacity of any director, officer, employee, or agent; and
(ii) Relocate the principal office, designate
alternative principal offices or regional offices, or authorize
the officers to do so.
(b) During an emergency defined in subsection (d) of this
section, unless emergency bylaws provide otherwise:
(i) Notice of a meeting of the board of directors
need be given only to those directors whom it is practicable to
reach and may be given in any practicable manner, including by
publication and radio; and
(ii) One (1) or more officers of the corporation
present at a meeting of the board of directors may be deemed to
be directors for the meeting, in order of rank and within the
same rank in order of seniority, as necessary to achieve a
quorum.
(c) Corporate action taken in good faith during an
emergency under this section to further the ordinary business
affairs of the corporation:
(i) Binds the corporation; and
(ii) May not be used to impose liability on a
corporate director, officer, employee, or agent.
(d) An emergency exists for the purposes of this section
if a quorum of the corporation's directors cannot readily be
assembled because of some extraordinary event.